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Services

Mayolo & Associates LLC provides a wide range of confidential, accurate and timely services to individuals and businesses in a variety of industries. We strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

Our professional services include but are not limited to the following:


Business Coaching Services

Our Business Coaching service is a specially custom designed plan for you and your business. We build the plan directly from an understanding of what an entrepreneur needs in their tax planning. Our Business Coaching service will focus on three areas.

Step #1: Tax Efficiency Evaluation

We evaluate the tax efficiency of your current business model. From our evaluation we help you determine what other types of tax efficient tools and business planning ideas you might benefit from. Our evaluation will include a “priority list” of items we will offer as suggested next steps, which will be formalized as a “game plan” for you to follow.

Step #2: Implementation

Our Business Coaching program is designed to not only provide the tools you will need to become tax efficient, but we also provide the documentation and implementation of the tools necessary to ensure the best end result. We will walk you through each step of your game plan and be certain you know what is needed for execution. We know what entrepreneurs need to spend their time on, and that will be the focus we take with our business coaching. We want you to focus on profitability and let us handle the details.

Step #3: Review

The last step of our Business Coaching process is to review your game plan on a regular basis. We know (and expect) things change as time goes on. Understanding this will mean your game plan may need to be altered or adjusted as your business changes. In addition, our current landscape of non-stop tax law changes will mean our tax review should be a high priority to stay on track.

Tax Planning and Preparation

At Mayolo & Associates LLC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow, and keep you on track to your financial goals.

If you want to reduce your taxes, a good tax plan is paramount. Tax planning is critical to achieving desired end results and staying on course. We walk you through each step of the tax planning process and help you achieve a positive end result!

Two steps to a positive end result are:

Step #1 – Proactive Planning.

Everyone wants to pay less in taxes – or at least only their “fair share”. To get to that amount, proactive tax planning is a necessity. Using our tax planning program, which can be paired with our Business Coaching program, we can be sure our clients will be on their way to tax efficiency.

Step #2 – Skilled People.

Our tax preparation process directly syncs with our tax planning engagements. We prepare all types of returns for S-Corporations, C-Corporations, Partnership, Individual tax returns, and more. At Mayolo & Associates LLC we try to make the entire tax process as easy as possible. All of our staff at Mayolo & Associates LLC is well trained and well versed in many aspects of small business. Our staff views preparing your tax return, as if they were preparing their own.

Our expertise, experience, analysis, and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws, and can make sense of your receipts, bills, and notices.

Accounting Services

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Mayolo & Associates LLC provides accounting solutions to all types of business clients. By using cloud technology we customize the level of service you need to produce timely and accurate financial numbers based on your in-house resources. We can help you design a system that will work for you. Whether you use Accounting CS, QuickBooks, or another accounting solution - we have advisors available to assist with any question you may have.

Our Accounting/Bookkeeping Solutions are broke down into 3 general engagements.

1 – Training Engagement:

Many of our clients do not have a high degree of complexity with their accounting, yet they want to have an efficient system. We will set up and train you (or whomever will be doing your data entry) on what you will need to do with your accounting system.

2 – Quarterly Reconcile Engagement:

For clients who do their own data input that have some additional complexity and reporting requirements, we offer a quarterly reconcile program to ensure accuracy of your data. This includes reconciled monthly bank and credit card statements, general ledger clean-up, depreciation calculations, and much more.

3 – Full Data Entry and Reconcile Engagement:

For clients who chose to outsource data entry and reconciliation, we can customize a system to meet the needs of your business. Our clients save money by not having additional employees on their staff - which requires paying payroll taxes, health insurance and other employee-related costs. We essentially become their internal accounting department and our clients enjoy the cost savings.

Hosted/Online QuickBooks and Accounting CS

We have embraced “cloud” technology. We use a hosting QuickBooks service and other online accounting solutions such as Accounting CS to provide our clients with the best hands-on service. With your company’s Accounting file online, the need for sending and restoring backup files is completely eliminated. By using an online solution you have access to your books 24/7 and so do we. If you ever have a quick question on how to post a transaction or if you want us to take a look at how you’ve recorded a transaction, we can answer your questions in a matter of minutes.

Compilation & Reviews

Mayolo & Associates LLC's financial statement services comprise of Compilation and Review levels of assurance depending on your company's needs.

Compilations

Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Reviews

Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

For clients needing Audits

Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. Although we do not provide auditing services, we have a close network of professional CPA's that we refer, who will fulfill your auditing requirements.

Payroll Services

When you choose Mayolo & Associates LLC to do your payroll, you’ll receive personalized service from a team of dedicated payroll specialists and online access to your payroll information through Employer and Employee Portals. You’ll be assured of the highest level of data security and confidentiality.

We have a variety of options for payroll management, whether your organization has two employees or 200, in one state or several. Services are tailored to meet your individual needs and vary from complete start-to-finish payroll processing, which includes check printing and preparing payroll tax deposits to submitting the required state and federal quarterly and annual reports.

Our payroll services can help you reduce the time spent on administration so you can spend time running your business operations.

QuickBooks Accounting Help and Assistance

QuickBooks can provide useful and timely information in the form of financial statements, reports, and graphs. However, it can only provide this information if you purchase the right product and then install, setup, and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.

As QuickBooks Pro Advisors, Mayolo & Associates LLC offers the following solutions to help meet your QuickBooks needs:

Personal Training

We train you personally! Either one-on-one or several individuals within your organization at your company's location.

Installation

We can install QuickBooks on your stand alone computer, in a network environment, using a hosted or online solution, and in either single- or multi-user modes.

Setup

We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking, and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.

Support

Our QuickBooks support service can assist you with any installation, setup, or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.

Review

Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts, and reports. This review ensures that you receive timely, relevant, and reliable financial information. We also inform you of any corrections, adjustments, or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but quarterly reviews provide you with up-to-date information and feedback about your business.

Bill.com Services

What if our firm could help you eliminate writing and mailing checks, bill payment errors, late payments and check fraud? What if we could help you access information online — anytime, anywhere? Let’s get started, with a secure, paperless solution for managing your accounts payable and receivable processes. With Bill.com, we will help you pay your bills and get paid faster than ever before. Through our services, we can help you save time and increase your organization, control and efficiency.

Data Conversion Services

Converting accounting systems is not your typical DIY project. Our QuickBooks Data Conversion experts can do the heavy lifting for you so you can focus on running your business. We know how to work with your accounting software so that when we import the data into QuickBooks, it is set up the right way from the start. If your business is currently using a software that is very expensive, difficult to use, or lacks key functionality, let us show you how to save time and money by migrating to QuickBooks.

List Items

We convert your list data to QuickBooks including your chart of accounts, customers, vendors, jobs, classes, inventory, service & tax items, assemblies, price levels, employees, and other names.

Transactions

We convert your transactions including open accounts receivable, customer invoices, open accounts payables / vendor bills, open estimates, open sales orders, open purchase orders, and summary balances by month.

Details

A file clean-up may be necessary as every accounting system treats transactions differently. We convert all your general ledger transactions, invoice / bill details, and can also consolidate or separate files.

Estate and Trust Planning and Tax Preparation

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Mayolo & Associates LLC will work with your attorney as a team to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.

IRS Representation

Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.

Entity Selection and Restructuring

Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Mayolo & Associates LLC will work with your attorney as a team to advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.

Automotive Accounting

Whether you are a new vehicle, used vehicle, heavy duty truck, motorcycle, or recreational vehicle dealer, Mayolo & Associates LLC's depth of knowledge in tax planning and financial management coupled with our experience working in the dealership industry enables us to provide our automotive clients with the knowledge and service they need in these times to succeed.

Marcellus Shale Transactions

You as the landowner are potentially liable for income, property, and estate taxes from your land and the natural resources therein, primarily Oil, Gas and Minerals. Dealing with this newfound wealth requires careful financial and tax planning. The tax law surrounding oil, gas, and mineral (OGM) leases and royalties is complex and ever-changing. The Internal Revenue Service (IRS) and the Pennsylvania Department of Revenue have specific tax rules for OGM revenue. At Mayolo & Associates LLC we will work with your attorney as a team to help you understand these rules, avoid penalties and possibly save you money by sidestepping unnecessary taxes.

We also work very closely with attorneys experienced with Marcellus and Utica Shale leases. If you are a landowner, you need to get proper advice before you sign!


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